OMXIPI

I am closely watching if the OMX Iceland All-Share Price Index (OMXIPI) is in the process of reversing its long-term trend from down to up. If so, holding the 2.015 level and rising above the purple smoothing line in the next few days is important in my opinion.

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OMXI15

If the OMX Iceland 15 Index (OMXI15) is turning its long-term direction to the upside, it needs to stay above the 2.270 level.  

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Stock Price of Marel

Marel is the second-largest company in the Icelandic stock market in terms of market capitalization. As a member of both indices, its stock price weighs heavily on the performance of OMXIPI and OMXI15. On Friday, Marel´s stock price gapped up on positive news. It would be a very promising signal for the general market if the price manages to push convincingly through the 517 ISK per share level, whether filling the gap underneath first or not.  

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OMXI All-Share Index Real Total Return

The final chart shows the rolling one-year, real total return of the OMX Iceland All-Share Index. Since June 2022 the rate of return has been negative and has for the most part oscillated between one and two standard deviations below its +12-year average. Its current standing is -14.5%.

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